The Euro trades in corrective mode off 1.3585 higher **** under formation, where a pullback from1.3649, 10 July peak, found support. The price broke above near-term range, after competing consolidative action, which was holding around 1.36 handle. Fresh rally which reversed over 76.4% of 1.3649/1.3585 downleg, sidelined near-term downside risk and turned immediate focus at the first pivotal barrier at 1.3649. Break here, also Fibonacci 61.8% of 1.3699/1.3574, is required to confirm higher **** at 1.3585 and focus the next key barriers at 1.3699, peak of 01 July 2014, with 55/200SMA death cross at 1.3674, seen as additional protection of 1.3699 hurdle.

Res: 1.3649; 1.3662; 1.3674; 1.3699

Sup: 1.3623; 1.3600; 1.3585; 1.3574

Cable maintains overall bullish structure, with near-term price action being in consolidative mode, which so far holds within 1.7100/1.7175 range. Studies on hourly chart turned negative, as the price holds near-the lower range boundary. Technical of 4-hour chart are neutral, favoring further directionless trading, while 1.71 handle stays intact. However, daily studies, reversing from overbought zone, require caution, as break below 1.71 handle would trigger fresh weakness signal stronger pullback, towards initial 1.7061, previous peak and psychological 1.7000 support.

Res: 1.7149; 1.7166; 1.7177; 1.7200

Sup: 1.7100; 1.7083; 1.7061; 1.7000

The pair consolidates last week’s fresh weakness and extension lower, which probed 101 support area. Overall bearish structure favors eventual break below psychological 101 support and test of key supports and short-term congestion floor levels at 100.81/74, below which to resume larger downtrend off 105.43, 2013 annual high. Corrective actions face initial barrier at 101.43, ahead of 101.55, Fibonacci 61.8% retracement of 101.85/101.05 downleg, where rallies should be ideally capped. Only break above lower high at 101.85 and psychological 102 barrier, would neutralize bears.

Res: 101.43; 101.55; 101.85; 102.00

Sup: 101.20; 101.05; 100.80; 100.74

The pair trades in near-term consolidative and directionless mode, after acceleration from 0.9454 spike high, found support at 0.9359. Near-term technicals are neutral and require lift above 0.9454 barrier, to confirm bullish resumption, supported by overall positive picture and eventual attack at key 0.9503 peak. Alternative scenario sees violation of initial 0.9359 handle and renewed attempt at strong support and higher **** at 0.9320 zone, below which to trigger fresh extension of the pullback from 0.9503.

Res: 0.9407; 0.9429; 0.9454; 0.9503

Sup: 0.9375; 0.9359; 0.9339; 0.9327

The Euro failed to sustain gains off 1.3585 ****, after recovery rally stalled at 1.3639 and subsequent easing returned to 1.36 support zone. With near-term studies losing traction, downside risk increases, as loss of 1.36 handle to expose key supports at 1.3585 higher **** and low of 07 July at 1.3574. Completion of 1.3574/1.3639 corrective phase to signal resumption of larger descends off 1.3699, 01 July peak and possibly open key short-term support and **** at 1.35 zone. On the other side, ability to hold above 1.3585, would signal prolonged consolidation, while establishment of an upside direction requires fresh stretch and regain of 1.3639/49 barriers.

Res: 1.3625; 1.3639; 1.3649; 1.3699

Sup: 1.3600; 1.3585; 1.3574; 1.3559

Cable lost bullish momentum and penetrated below initial 1.71 support and previous consolidation floor. This signals stronger corrective action, off fresh high at 1.7175, with previous top at 1.7061, being tested so far, as the pair aims towards the next target and psychological support at 1.7000. Negative near-term technicals support further easing, as reversal pattern is forming on a daily chart. Corrective rallies to face initial resistances at 1.7088/1.7100 zone, with extended rallies, to be contained by 1.7150 zone.

Res: 1.7088; 1.7100; 1.7120; 1.7134

Sup: 1.7049; 1.7000; 1.6950; 1.6937

The pair moves higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extension higher so far retraced nearly 50% of 102.25/101.05 descend, with positive hourly studies being supportive. However, 4-hour technicals are still weak and require regain of pivotal 101.85/102 barriers to confirm recovery. Otherwise, lower top formation and fresh weakness, in case of stall under 101.85, reinforced by 20/200 death cross, would remain on the table, as overall picture remains bearish and sees potential for final push towards key supports and short-term congestion floor levels at 100.81/74, loss of which to resume larger downtrend off 105.43, 2013 annual high.

Res: 101.65; 101.85; 102.00; 102.25

Sup: 101.51; 101.20; 101.05; 100.80

The pair trades in near-term consolidative mode, with price action holding near the lower consolidation boundary at 0.9359, where acceleration from 0.9454 spike high, found temporary support. Near-term technicals are losing neutral bias, which requires confirmation on a break below 0.9359 handle, to bring bears back in play for return to 0.9320 breakpoint. Alternatively, holding above current supports, will keep the pair in extended consolidative mode, while lift above 0.9454 barrier is required to confirm bullish resumption, for eventual attack at key 0.9503 peak.

Res: 0.9407; 0.9429; 0.9454; 0.9503

Sup: 0.9359; 0.9339; 0.9327; 0.9320

The Euro remains under pressure and left lower top at 1.3639, after fresh acceleration lower probes levels below 1.3585/74 supports. The way towards 1.35 **** and key short-term support, is now open, as fresh weakness retraced nearly 76.4% of 1.3502/1.3699 rally. Bearish near-term studies support the notion, as daily tools are building bearish momentum for eventual completion of 1.3502/1.3699 phase, with probe below 1.35 **** / main bull trendline off 1.2042 and return to another pivotal short-term support at 1.3475, 03 Feb higher low, to complete larger, Feb/May 1.3475/1.3699 ascend. Corrective rallies should find ideal cap at previous supports at 1.3585 and 1.3600, while only sustained break above the latter would delay immediate bears.

Res: 1.3574; 1.3585; 1.3600; 1.3625

Sup: 1.3556; 1.3534; 1.3511; 1.3502

Cable rallied sharply and escaped from dangerous territory, neutralizing downside risk, which started to build up on a break below 1.71 handle. Strong rebound recovered all near-term losses and posted marginally higher high at 1.7189. This brought near-term focus back to the upside levels, for resumption of larger uptrend, being paused by 1.7177/1.7057 corrective phase, with reversal signaled by bullish engulfing pattern. Positively aligned near-term studies and already bullish larger picture, support the notion, however, close above near-term tops is required to confirm.

Res: 1.7166; 1.7177; 1.7189; 1.7200

Sup: 1.7123; 1.7108; 1.7095; 1.7068

The pair continues to move higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extensions retraced over 76.4% of 102.25/101.05 descend, with positive near-term studies being supportive. The price action approaches the lower boundary, previous 09 July high / 200 SMA, of pivotal 101.85/102.00 resistance zone, break of which is required to confirm recovery. However, caution is still required as daily studies are weak and risk of lower top formation will persist while 102 barrier stays intact. Otherwise, break here to open next pivotal barriers at 102.25/35.

Res: 101.75; 101.85; 102.00; 102.25

Sup: 101.62; 101.42; 101.37; 101.20

Near-term recovery attempt lost traction after spiking at 0.9454 and subsequent weakness nearly fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 **** could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.

Res: 0.9376; 0.9407; 0.9429; 0.9454

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro continues to trend lower and looks for retest of key support and near-term target at 1.35 ****, to complete 1.3502/1.3699 ascend. The third wave, which commenced from 1.3649 lower top, met its 100% Fibonacci expansion at 1.3520, where the pair entered consolidative phase, ahead of final push to 1.3502 low. Overall negative structure sees scope for further extension of larger downmove off 1.3699 peak, with the wave expected to extend to 1.3475/70, 03 Feb higher low / Fibonacci 138.2% expansion and 1.3440, 161.8% expansion. Stronger corrective actions should find good barrier at 1.3570, previous lows zone / lower platform / 50% retracement of 1.3639/1.3519 downleg.

Res: 1.3532; 1.3560; 1.3572; 1.3585

Sup: 1.3519; 1.3502; 1.3470; 1.3440

Cable trades in extended corrective phase off fresh high at 1.7189, after strong recovery rally failed to sustain gains above previous high and resume larger uptrend. Further sideways trading, shown on larger timeframes, seems to be likely scenario, as the pair failed to capitalize on 15 July strong rally and change of direction, signaled by outside day candle. Near-term structure is weakening, as the price so far dipped to the levels close to 1.71 support, previous breakpoint and Fibonacci 61.8% retracement of 1.7057/1.7189 upleg. Break here to confirm negative near-term stance and re-focus lower range levels. However, daily structure remains firmly bullish and sees fresh attempts higher favored, once corrective action is over. Fresh low at 1.7057 is expected to hold and prevent the pair from more significant pullback.

Res: 1.7149; 1.7166; 1.7189; 1.7200

Sup: 1.7111; 1.7089; 1.7068; 1.7057

The pair corrects recent rally that peaked at 101.78, with dips being so far contained at 101.44, just above 15 July spike low and 50% retracement of 101.05/101.78 upleg, where corrective actions should ideally reverse. Reversing hourly RSI and positive 4-hour structure supports such scenario and sees scope for eventual attempt through pivotal 101.85, 09 July high / psychological 102 barrier, also daily cloud ****, break of which to confirm bullish resumption and open next breakpoints at 102.25/35. Alternatively, loss of 101.40/30 support zone, current lows and Fibonacci 61.8% / previous consolidation tops, to bring bears back in play for possible return to 101 support zone.

Res: 101.61; 101.78; 101.85; 102.00

Sup: 101.44; 101.33; 101.20; 101.05

The pair remains under pressure as near-term recovery attempt off 0.9327, 03 July low, lost traction after spiking at 0.9454 and subsequent weakness fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 **** could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.

Res: 0.9396; 0.9407; 0.9429; 0.9454

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro consolidates above 1.35 **** / trendline support, which was cracked last Friday, on a spike to 1.3489. Te break was short-lived, with near-term indecision confirmed by double Doji candle. Mixed near-term studies confirm the sideways mode, as hourlies gained some strength and retraced 38.2% of 1.3639/1.3496 descend, while 4-hour structure remains negative. This sees corrective attempts limited, as larger picture remains bearish and favor eventual clear break of pivotal 1.35/1.3475 support zone, to trigger fresh weakness. Former lows that form layers of resistances between 1.3465 and 1.3485, should serve as solid resistances, before the pair commences fresh leg lower. Alternatively, lift above 1.36 handle would delay attempts at 1.35 **** for stronger recovery, with pivotal barriers at 1.3639/49 lower tops.

Res: 1.3538; 1.3563; 1.3575; 1.3585

Sup: 1.3522; 1.3502; 1.3489; 1.3475

Cable holds negative near-term tone, as corrective phase off fresh high at 1.7189, fully retraced 1.7057/1.7189 upleg and extended weakness to 1.7034, fresh low, posted last Friday. This sees scope for fresh attempts lower and test of psychological 1.7000 support, as lower timeframe’s studies turned bearish after false break higher, with corrective rallies seen ahead of fresh weakness and ideally to be capped at 1.7100/10 zone, lower top and 38.2% / 50% retracement of 1.7189/1.7034 descend. Loss of 1.70 handle, also Fibonacci 38.2%, to open way for further retracement of 1.6697/1.7189 upleg.

Res: 1.7100; 1.7115; 1.7148; 1.7166

Sup: 1.7075; 1.7057; 1.7034; 1.7000

The pair maintains overall negative tone after recovery rejection at 101.78 failed to test pivotal 101.85/102 barriers and fresh weakness retested 101.05 low. Downside pressure persists and sees eventual push below psychological 101 support, for test of critical 100.81/74 support, below which to commence fresh bear-leg, resumption of larger downmove off 105.43, 02 Jan peak. Corrective rally was so far capped at 101.43, 50% of 101.78/101.07 descend, with more significant results, requiring break above 101.85/102 hurdles, to sideline overall bears.

Res: 101.43; 101.56; 101.78; 101.85

Sup: 101.18; 101.05; 100.81; 100.74

The pair trades in near-term range mode after upside attempts were limited at 0.94 zone, with the downside being protected strong 0.9320 support and short-term ****, also daily cloud top. Improved near-tem studies on a rally from marginally higher low at 0.9334, keep the price at the upper part of the range, with attempts above 0.94 handle seen in play in the near-ter. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.

Res: 0.9408; 0.9436; 0.9454; 0.9503

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro continues to trade in consolidative mode above 1.35 **** / main bull-trendline off 1.2042 low, strong support which was cracked last Friday, on a spike lower to 1.3489. The pair failed to sustain break and entered narrow–range sideways trade, after limited recovery attempt, being capped at 1.3547, Fibonacci 38.2% retracement of 1.3639/1.3489 downleg. Triple Doji candle confirms near-term indecision. Hourly studies are neutral, while 4-hour structure remains negatively aligned, suggesting further downside as favored scenario, on completion of limited corrective actions. Fresh leg lower requires clear break below 1.35 handle and 1.3475, 03 Feb low, to confirm bearish resumption and enter stronger correction of larger 1.2042, July 2012 low / 1.3992, May 2014 peak. Extended correction above 1.3547, to face strong barrier at 1.3575/85, former lows and Fibonacci 61.8% retracement of 1.3690/1.3489 descend, where rallies should be ideally capped, while break here would delay bears and open key lower tops at 1.3639/49, 14/10 July highs.

Res: 1.3547; 1.3575; 1.3585; 1.3626

Sup: 1.3512; 1.3502; 1.3489; 1.3475

Cable holds negative near-term tone and consolidates losses off 1.7189 peak, which posted fresh low at 1.7034 on 18 July. Upside attempts stay so far limited at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are weak and support further descend. Alternatively, clear break above 1.71 handle to delay bears and confirm prolonged sideways movements.

Res: 1.7100; 1.7115; 1.7148; 1.7166

Sup: 1.7075; 1.7057; 1.7034; 1.7000

The pair extends near-term recovery off 101.05, after leaving higher low at 101.22 and extending above previous high at 101.43. Rally retraced over 61.8% of 101.78/101.05 descend, seeing potential for attempt at the first pivot at 101.78, break of which to confirm double bottom formation and pen way for stronger recovery, which also requires lift above 101.85 lower top / 55/200SMA death-cross. Overbought hourly studies suggest a pause in current rally, with increased downside risk seen on extension below 101.35, 38.2% of 101.07/101.56 / 20/55SMa bull-cross. However, overall negative structure so far sees upside actions limited and downside favored, while 101.85/102.25 barriers stay intact.

Res: 101.56; 101.78; 101.85; 102.00

Sup: 101.43; 101.26; 101.18; 101.05

The pair trades in near-term range mode, with the upside so far being limited at 0.94 zone and the downside protected at strong 0.9320 support and short-term ****, also daily Ichimoku cloud top. Improved near-tem studies on a rally from 0.9334, which left higher low at 0.9358, keep the price at the upper part of the range, with attempts above 0.94 handle seen as favored in the near-term. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.

Res: 0.9408; 0.9436; 0.9454; 0.9503

Sup: 0.9358; 0.9327; 0.9320; 0.9300